The number of debt decrees registered against Scottish consumers has risen by 20% during the first half of 2018, according to latest figures released by the Registry Trust.
During Q1 and Q2 2018, 13,190 debt decrees were registered against Scottish consumers, 20 percent more than in the first half of 2017. This combined with an 11 percent fall in average value caused the total value of all consumer decrees to increase by seven percent.
Only 3.42 percent of decrees were marked as satisfied during the first half of 2018, far lower than the 14.54 percent of satisfied debt judgments in England and Wales, where satisfaction rates are generally higher owing to legal differences.
Registry Trust is analysing debt claimants in Scotland by sector to improve understanding of the bare statistics. Currently the four major categories are debt purchasers, local authorities, primary lenders and housing associations. The increased number of decrees against companies is more likely to be associated with more active debt purchasers than with any deterioration in the economy. The increased recording of debt problems is in the public interest, making it more likely that credit ends up in the right hands.
● Q1 and Q2 2018 All consumer decrees (compared with Q1 and Q2 2017)
○ Total: 13,190 (up 20 percent)
○ Total value: £35,298,834 (up seven percent)
○ Average value: £2,676 (down 11 percent)
○ Median: £1,272 (up three percent)
● Q1 and Q2 2018 Small claims and summary cause decrees
○ Total: 11,977 (up 20 percent)
○ Total value: £18,135,248 (up five percent)
○ Average value: £1,514 (down 12 percent)
○ Median: £1,155 (up three percent)
● Q1 and Q2 2018 Ordinary cause decrees
○ Total number: 1,213 (up 24 percent)
○ Total value: £17,163,586 (up nine percent)
○ Average value: £14,150 (down 12 percent)
○ Median: £8,162 (up four percent)